UK ISP Easynet Narrows 2002 Losses
Posted: 26th Feb, 2003 By: MarkJ
Easynet has today released its latest financial details, which show that the ISP succeeded in narrowing its losses during 2002:
The company completed its UK network and cut capital expenditure by 90% to £19.5m last year, with net losses shrinking to £79m from £280.9m in 2001.
It was also helped by growth in its European operations, where sales rose 71% to £29.8m and contributed to a 17% rise in overall turnover to £91.5m.
In the UK, the company recorded an EBITDA profit of £2.1m in the second half of the year, compared to a £3.2m loss in the first six months, after cutting jobs and halving the operating costs of its national fibre network.
The netimperative.info item notes Easynet's continued local loop unbundling leadership and broadband progress as helping the company.
The company completed its UK network and cut capital expenditure by 90% to £19.5m last year, with net losses shrinking to £79m from £280.9m in 2001.
It was also helped by growth in its European operations, where sales rose 71% to £29.8m and contributed to a 17% rise in overall turnover to £91.5m.
In the UK, the company recorded an EBITDA profit of £2.1m in the second half of the year, compared to a £3.2m loss in the first six months, after cutting jobs and halving the operating costs of its national fibre network.
The netimperative.info item notes Easynet's continued local loop unbundling leadership and broadband progress as helping the company.
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